Pre-congress seminar one

Boom and spikes in commodity and shipping markets

Tuesday July 12, 2011

Led by: George A. Martin, Associate Director, CENTER FOR INTERNATIONAL SECURITIES AND DERIVATIVES MARKETS (CISDM)

08.00 Registration and coffee

09.00 Fundamentals of spot and forward commodity markets: part one

  • Outlook of commodity markets in 2011
  • Price formation of commodity spot prices
  • The importance of liquid indexes for the growth of derivatives; the major example of iron ore and steel during the year 2010

10.30 Morning break

11.00 Fundamentals of spot and forward commodity markets: part two

  • Understanding the impact of inventory on commodity spot price volatility
  • Shipping markets: the Remarkable Swings in Freight Rates
  • Carry trade and shape of the forward curve
  • The growing market of steel swaps

12.30 Lunch

13.30 Base and precious metals

  • Zinc, copper, nickel, lead and their dramatic moves
  • The London Metal Exchange rules: warehouses and inventories
  • Gold as a numéraire currency
  • Silver, platinum, palladium

15.00 Afternoon break

15.30 Energy markets

  • Natural gas markets: understanding the role of seasonality
  • The new outlook of US gas markets
  • Crude oil as a strategic commodity
  • Electricity and its unique features
  • Coal as a “safe” energy
  • Uranium, rare earths

17.00 End of seminar